If your house has a mortgage, you cannot sell it without your bank´s authorization. This process is called a Mortgage Cancellation Request. It seems simple, but it´s where 40% of deeds are delayed.

The Financial Mechanics:

Principal Debt Calculation: The value changes daily (daily interest). The bank must issue a document with the exact value on the date of the deed.

Interbank Coordination: On the designated day, the buyer´s bank issues two checks (or immediate transfers): one for you (the profit) and one for your bank (the debt).

The Document: Your bank only issues the Mortgage Cancellation document if it receives the money that very second. If there is a communication failure, the notary´s office will not sign.